Learn more about payment history Amounts owed (30%) This is the most important factor in a FICO Score. This helps a lender figure out the amount of risk it will take on when extending credit. The first thing any lender wants to know is whether you've paid past credit accounts on time. What categories are considered when calculating my FICO Score? Payment history (35%) However, lenders may look at many things when making a credit decision, such as your income, how long you have worked at your current job, and the kind of credit you are requesting. Your FICO Score is calculated only from the information in your credit report. Your FICO Scores only look at information in your credit report Even the levels of importance shown in the FICO Scores chart above are for the general population and may be different for different credit profiles. Because of this, it's not possible to measure the exact impact of a single factor in how your FICO Score is calculated without looking at your entire report. Your credit report and FICO Scores evolve frequently. In addition, as the information in your credit report changes, so does the evaluation of these factors in determining your FICO Scores. For example, scores for people who have not been using credit long will be calculated differently than those with a longer credit history. They are calculated based on the five categories referenced above, but for some people, the importance of these categories can be different. Your FICO Scores are unique, just like you. The importance of credit categories varies by person The importance of these categories may vary from one person to another-we'll cover that in the next section. The percentages in the chart reflect how important each of the categories is in determining how your FICO Scores are calculated. Your FICO Scores consider both positive and negative information in your credit report.
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